Level 3 Communications Reports Profit For Q2; Reaffirms FY Outlook - Quick Facts

(RTTNews) - Network services provider Level 3 Communications, Inc. (LVLT) Tuesday reported a profit for the second-quarter, compared with loss last year, as the company benefited from growth in core network services business and an improved gross margin. In addition, the company reiterated its annual outlook.

For the three months to June, net profit stood at $51 million or $0.21 per share, compared with a net loss of $24 million or $0.11 per share a year earlier.

On average, thirteen analysts polled by Thomson-Reuters estimated the company's earnings to be $0.30 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled $459 million, compared with $387 million in the corresponding period last year.

Quarterly revenues increased to $1.62 billion, from $1.56 billion last year, above the $1.60 billion Wall Street expected, helped by a 6.9 percent rise in core network services revenue.